RE:RE:RE:RE:Nay Sayers
Ed build a mine? Nope.
But would he like to retire with a round of celebrations - Prospector of the Year, most important discovery in BC and Canada, a big payout and sail into the sunset a story about a lifetime of toil and late bloomer success? I see him as a Kurt Gibson character limping up to the plate and becoming an instant hero with just a few swings of the bat here. Or not, of course, we could all be disappointed, its greenfield exploration drilling.
Just doesn't appear to be nothing at Nobody Knows and Treasure Mountian, and perhaps at Dardanelles as well ... it could be one of those problematic, promising but never ripens showings with patchy high grade that just doesn't produce sufficient tonnage in sufficient average grade. But ... man, it's shallow, it's close to infrastructure, and if it has high grade CU intersections with very high grades over a few meters that ribbon through low grade CU for mineralization to ... 125m depth ... over a broad area in mass tonnage, little overburden, the grades don't need to be much above as little as 1% CU to be economic.
Consider the grades of the biggest CU mines in the world are generally between 0.4% and 0.8% CU, and their all-in sustaining costs per pound CU are maybe 75 cents to $1.50 lb/CU USD.
There is a lot of disinformation being spread around about how hole three coming in less than average 2% would be a dissappointment. Um, no, it would be indicating a potential bonanza as further holes come in expanding the deposit footprint and geometry. We already have high grade stringers, we have extremely promising visuals, we have a veteran geologist making a very public declaration of a major discovery and identifying highly promising visual core over wide intersections.
1% cu in shallow mass tonnage is a huge discovery - 22 lbs of CU per tonne - say 5.5 tonnes to the cubic meter, maybe 110 lbs CU ... you have a hundred meters depth, a footprint of 150 x 150 meters ... or 50 meters by 450 meters length, whatever ... do the math, you have contained metal worth over a billion dollars and a discovery worth many tens of millions if not more. The implied market cap here is virtually nothing at under $15 million CAD. Expand the footprint, those numbers ramp up in a hurry.
Yeah, a junior that has had some disappointing drilling seasons and a value- rushing rollback. Mistrust. I dunno. I'm in and waiting for assays with my neck stuck out. It looks very real to me the way it has proceeded since August except for one thing - the sustained rollover of shares. There are obviously people who either have a better use for their money, wanted to realize gains or losses without regard to their future interest (wait 30 days and buy back in), or some trader strategy based on small moves. The nightmare scenario it was all about pumping the price up off 9 cents ... but even that for say an average gain of 9 cents at 18 cents only grinds $8 million out of the market in four months for the entire share float, and there is a substantial amount of the float that isn't trading and has been consolidating.
You Pays your money you takes your chances using the best information and your God given intelligence and common sense. I like it. I'm IN!
cg